New Module Includes Supply Forecasting Based on Scheduled Procedures, Physician Preference Card Requirements and Current Inventory

EAGAN, MN--(Marketwired - July 27, 2016) - Jump Technologies, Inc., an innovative software company with solutions that improve supply management in hospitals, today announced the new JumpStock™ OR Module will be unveiled at the 2016 Association for Healthcare Resource & Materials Management (AHRMM) conference and exhibition. With this enhancement to JumpStock inventory management, Jump Technologies continues to expand its portfolio of cloud-based mobile solutions that reduce labor, reduce costs, and enable more automated and accurate supply management.

Problems with the Current State

Consider the most significant problem in the area of supply and device management: an estimated $5 billion in annual loss to the healthcare industry related to the supply chain in the Operating Room (OR)1.

With disparate systems, manual processes and incomplete functionality from legacy technology, OR staff members face challenges including poor visibility to supplies, limited system integration and data sharing, and difficulty tracking and managing items inventoried in the OR.

The lack of visibility to inventory inside the hospital and within the OR cause overstocking issues as well as stock-outs. It's not unusual for an OR team to discover they're missing an item needed for a scheduled procedure, immediately before the procedure is taking place, and not be able to determine whether that item is on-hand in within the facility.

Introducing the JumpStock™ OR Module

The new JumpStock™ OR Module takes inventory management to new levels of visibility, predictability, automation and accuracy. Jump Technologies has designed simple interfaces to connect JumpStock with a hospital's OR scheduling and preference card systems, powerfully integrating current on-hand inventory, on-order inventory and safety stock with scheduled procedures and physician preference cards. The JumpStock OR Module helps build accurate supply forecasts needed for one OR suite, multiple suites or an entire organization, within a specified time period. In just a few clicks, an OR team member can order required supplies based on forecast.

Using JumpStock to manage inventory provides ongoing, accurate data about supply usage, building greater predictability in the OR. By forecasting supply requirements for scheduled procedures, the JumpStock OR module helps to decrease or eliminate stock-outs, overstocking and waste -- and in turn, reduce rescheduled procedures, helping to build clinical confidence.

Designed to optimize OR inventory management, the JumpStock OR Module:

Helps build visibility to usage and cost via the post-procedure Cost of Supply Report, which provides a detailed view -- including price -- of every item used, building foundational data for further Cost, Quality and Outcome reporting

Overcoming the Challenges

"While inventory management has traditionally been difficult in health systems, the OR brings a unique set of challenges. There's a wide variety of supplies and devices kept on hand, which can enter the OR via a range of channels and make visibility exceptionally difficult," said Sophie Rutherford, vice president of Business Development, Jump Technologies, Inc. "As health systems work to reduce costs and increase supply chain visibility, improving inventory management in the OR is key. It's more important than ever for hospitals to build visibility, automation and accuracy into their supply chain processes, in order to improve Cost, Quality and Outcomes."

"We've focused on managing inventory in the OR because we see the opportunity for cost reductions. Steps we're taking will drive greater automation and accuracy, more data sharing among systems, and an overall reduction of manual processes," said Seth Larson, CMRP, director of Supply Chain Management, Chesapeake Regional Medical Center. "We have a goal to understand the costs of supplies used during procedures, which not only supports our Cost, Quality and Outcomes efforts, but also provides our patients with more accurate and transparent bills. Today, we're making progress toward our planned future state -- a uniquely visible, cost-effective supply chain."

About Jump Technologies, Inc.JumpTech is the first provider of cloud-based supply management solutions for hospitals and healthcare organizations that are easy to implement, adopt and manage, using mobile devices such as tablets and smart phones. Eliminating extensive investments in hardware, implementation time and training, solutions from JumpTech are guaranteed to deliver immediate return on investment. Easy-to-use interfaces and accurate, timely reports help drive compliance, reduce training, save hard dollars and reduce labor. For more information, visit www.jumptech.com or call (888) 373-7226. Follow the company on LinkedIn, Twitter @JumpTechNews and on Google+ at google.com/+JumptechInc.